Molybdenum Powder Price - December 22, 2023

The domestic molybdenum market in China showed relatively positive performance this week. 

At the beginning of the week, influenced by the rise in steel prices and quantities, along with the accelerated increase in international molybdenum prices, suppliers widely adjusted their quotations, and the adjustment amplitude was significant. 

However, as the week approached its end, the reduced enthusiasm of downstream users in entering the market for inquiries and purchases, coupled with the decline in international molybdenum prices, largely hindered another increase in domestic molybdenum product prices.

According to statistics from Chinatungsten Online, the current ferro molybdenum price increased by approximately 11,000 yuan/ton compared to last week, with an increase of 5.31%. The molybdenum concentrate price increased by about 120 yuan/tonne Mo, with an increase of 3.87%. Sodium molybdate price increased by about 7,000 yuan/ton, with an increase of 4.76%. Ammonium heptamolybdate price increased by about 7,000 yuan/ton, with an increase of 3.35%. The molybdenum powder price increased by about 7 yuan/kg, with an increase of 1.71%. The molybdenum oxide price increased by about 120 yuan/tonnage, with an increase of 3.75%. The price increase of molybdenum products this week is larger than the previous week, especially for molybdenum chemical products, which have seen a more noticeable increase.

According to CTIA GROUP LTD, the main reasons for the reduced market demand as the week approached its end are: firstly, some consumers have completed their procurement plans; secondly, due to the relatively high selling prices of molybdenum products and limited liquidity, some downstream users have proactively slowed down their consumption pace.

In terms of news, information from the Ministry of Industry and Information Technology shows that by 2025, China aims to add 50,000 enterprises implementing advanced quality management system standards, including 5,000 enterprises reaching inspection-level capability, 500 enterprises reaching assurance-level capability, and 50 enterprises reaching prevention-level capability. By 2027, the plan is to add 100,000 enterprises implementing these standards, including 10,000 with inspection-level capability, 1,000 with assurance-level capability, 100 with prevention-level capability, and 10 enterprises achieving excellence.

Prices of molybdenum products on December 22, 2023

Picture of MoSi2 heating elements 

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